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New UserSponge iron cos cold to higher grades in linkage auction
17 Jun 2016
As expected, the higher grades of coals met with muted response from the sponge iron sector consumers in the linkage auction that was held between June 10 and 16.
According to information available with ICMW, only around one-third of the offered quantity of G4, G5, G7 and G8 grades was booked during the auction even as the situation was slightly better for lower grades starting from G9 to G13 where more than 60% of the offered quantity was booked.
The low response to higher grades was attributed to continued softness in international coal prices as buyers feel that it is still better to depend on imported coal rather than committing for domestic purchases for a longer period of say 5 or 10 years.
“The current price of imported coal is much lower as compared to domestic coal of same grades,” an official of a sponge iron company said.
The total offering by four subsidiaries – SECL, MC, WCL and CCL - during the auction was 3.78 million tons (mt) of which only 2.098 mt got allotted.
Of the total, the offering of higher grades, stood at 703,000 tons of which only 240,000 tons was booked. The offering of lower grades (G9,G10, G11, G12, G13) stood at 3,077,000 tons and from this around 1,857,700 tons got allotted.
Following table gives detailed outcome of the linkage auction for sponge iron sector:
|
DATE |
GRADE |
SOURCE |
QUANTITY (tons ) |
NOTIFIED PRICE (Rs./MT) |
MODE |
% BOOKED |
||
|
OFFERED |
BOOKED |
OPENING |
PREMIUM |
|||||
|
June 10 |
G12 |
Bharatpur OCP, MCL |
5,40,000 |
3,12,000 |
910 |
0 |
Road |
57% |
|
June 10 |
G5 |
Block-B, NCL |
60,000 |
0. 00 |
2930 |
No Bid |
Road |
0 |
|
June 10 |
G11 |
Dipka, SECL |
1,50,000 |
0. 00 |
970 |
No Bid |
Rail |
0 |
|
June 11 |
G11 |
New Kusmunda, SECL |
5,30,000 |
1,20,000 |
970 |
0 |
Rail |
22% |
|
June 11 |
G10 |
Penganga OC, WCL |
1,40,000 |
1,00,000 |
1510 |
0 |
Road |
71% |
|
June 11 |
G4 |
Sonepur Bazari, ECL |
3,75,000 |
72,000 |
3180 |
0 |
Rail |
19% |
|
June 13 |
G13 |
Belpahar OCP, MCL |
4,80,000 |
4,84,700 |
860 |
25 |
Road |
100. 98% |
|
June 13 |
G11 |
JUNADIH, SECL |
4,70,000 |
3,84,000 |
970 |
0 |
Rail |
81. 70% |
|
June 13 |
G9 |
KDH - 1, CCL |
1,80,000 |
1,76,000 |
1320 |
0 |
Rail |
97. 78% |
|
June 14 |
G11 |
GEVRA ROAD, SECL |
2,70,000 |
2,52,000 |
970 |
0. 00 |
Rail |
93. 33% |
|
June 14 |
G11 |
Kusmunda, SECL |
22,000 |
28,900 |
970 |
25. 0 |
Road |
131. 36% |
|
June 14 |
G9 |
NILJAI OC, WCL |
1,00,000 |
0. 00 |
1670 |
No Bid |
Road |
0 |
|
June 15 |
G10 |
Amrapali OC, CCL |
1,20,000 |
0. 00 |
1180 |
No Bid |
Road |
0 |
|
June 15 |
G8 |
Rajmahal OCP, ECL |
1,25,000 |
0. 00 |
2330 |
No Bid |
Road |
0 |
|
June 15 |
G5 |
SURAKACHAR, SECL |
58,000 |
48,000 |
2750 |
0. 00 |
Rail |
82. 76% |
|
June 16 |
G12 |
Baroud, SECL |
25,000 |
100 |
910 |
0. 00 |
Road |
0. 40% |
|
June 16 |
G7 |
BURHAR, SECL |
85,000 |
1,20,000 |
1920 |
25. 0 |
Rail |
141. 18% |
|
June 16 |
G9 |
GHONSA, WCL |
50,000 |
0. 00 |
1670 |
No Bid |
Road |
0% |
|
Total |
|
|
37,80,000 |
20,97,700 |
|
|
|
55.49% |